Since January 18, the D2T/USD bear market has been challenging the $0.0045 price level. The recurrent, brief price dips below this threshold indicate the potential unsustainability of the bearish trend at this level. The consistent resistance to bearish pressures is reinforcing $0.0045 as a pivotal support level. Bulls persist in maintaining a robust stance at $0.0045.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.004, $0.0035, and $0.003.
Dash 2 Trade Price Analysis: The Indicators’ Point of View
There has been a subtle shift in the D2T/USD market dynamics favoring the bears. Despite a general sideways movement, a robust bearish move on January 16 caused a slight downward adjustment in the ranging market, transitioning from the $0.005 price threshold to the $0.0045 price level. The Bollinger Bands indicator has highlighted this narrow price channel, signifying decreased market volatility and a potential volatility squeeze, often preceding significant price breakouts. The expectation is that an upside price breakout will materialize soon, especially as the most recent candlestick, a doji, has converged with the 20-day moving average, reflecting a state of market equilibrium.
D2T/USD Short-Term Outlook: 1-Hour Chart
The D2T/USD Bulls are actively engaging with bears within the narrow price channel, ranging from $0.0044 to $0.0045. Despite the bears gaining strength and pushing the market away from the $0.0045 level, bulls have intervened around the $0.004523 mark, demonstrating a strong commitment to preventing the price from surpassing this level. Presently, the trade volume doesn’t provide substantial insights. However, the narrowing of the price channel sets the stage for a potential significant bullish price breakout.
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